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FOX Business
Aug 18, 2013 8:00am EDT
have done best lowering taxes have spurred the economy. look at president coolidge, rornld reagan spurred the economy, when he lowered them, he later raised them, but to get the economy going, he lowered taxes. waart said they're hurt by lower income sales. a 2% payroll tax increase, the payroll tax cut was put in place. it hurts lower income. if you're in the upper middle class, if you're higher, it doesn't affect you at all. with high gas prices, lowest labor participation rate since the 1980s and the economy stagnant, it hurts consumers significantly, yes. >> it's not just lower economy because we saw macy's, nordstroms, they have to fire their piano player or something, this is really hitting everyone. >> it's simple, right? you tax me more, there's less money in my paycheck. that's the bottom line. that means they're less disposable income for me to go to nordstrom's and buy a pair of shoes. instead what i have has to go to pay my bills. taxes hurt, bottom line. they'll continue raising them, which means this economy is not going to get better. >> steve, you buy that? >> nope
FOX News
Aug 17, 2013 8:00am PDT
cuts are risky for the u.s. economy." a threat to jobs. on and on. maybe not. all the warnings that we heard about widespread furloughs, not really materializing. get this, the federal deficit is actually slinking. so is this proof it's time for even more cuts? maybe more sequesters? hi, everybody. i'm david asman. welcome to "forbes on fox." let's go in focus with the man himself, steve forbes, john candy, elizabeth mcdonald. e-mac, more cuts? >> biggest squawkers found way to stop the furlough. transportation, justice, education, pentagon. what they did is cut. even the government biggest union found ways to cut the fat. when the pentagon is doing war exercises because they warn the debt is so big and a threat to national security, if a president added $5 from on his watch and the bond market says the interest rates will go up if we continue to add to the debt, we have to do it now. >> david: rick, we understand that the sequester was arbitrary. a lot of cuts were done in a sloppy manner. if you leave it up to spineless politician in beltway, you won't get anything done. >> i don'
Aug 19, 2013 11:00pm PDT
israel, talking about the global economy. >> united states managed, although it's hard for americans to believe, managed the crisis better than the other advanced economies. the many things which were reviled, the top and things like that, actually was successful. the united states got the banking system back into shape quicker than anyone else, the europeans still haven't done that. and the system-- . >> rose: the banks are at risk because of loans that they made. >> yeah. and the system is coming back to working. >> rose: we conclude with kevin spacey, the star of "house of cards" >> what the audience is saying is we want complicated stories. we want stories that ask of us an attention span which i think for many, many years television people didn't think we had. it is truth. the fact people are binge on house of cards. that didn't start with house of cards, that started with box sets. you talk to anybody, what did you do, i stayed in and w567d two seasons of breaking bad, dexter, mad men there seems to be this d the audience is telling us that they want the control. >> rose: fishe
Aug 20, 2013 6:30pm PDT
industry in china. it could cripple the world's second largest economy. that and more tonight on "nightly business report" for tuesday, august 20th. >>> good evening everyone. the big buzz on wall street today, the strength of the american consumer. four retailers came out with earnings and the results are mixed raising questions about how comfortable consumers are about spending and how that could impact the u.s. economy. first up, home depot. sales soared 11% helped by the turn around in housing. sales are so good they uplifted the sales and earning look for the rest of the year. >>> barnes & noble doubled, hurt by a 20% drop in sales by the nook e reader. j.c. penney lasts tripled and sales dropped 11% as it tries to recover from sales strategies of the past. the biggest surprise is from best buy, earnings up a stunning 22 times from a year ago. it looks like the electronics giant once left for dead enga neared a turn around that could be the envy of the sector. courtney regan has more on the comeback. >> reporter: this is the type of shopper best buy is trying to attract. the kind tha
Aug 22, 2013 6:00am EDT
things this economy needs. the problem is that the political debate is very -- right now. we need structural reforms. we need more balanced aggregate demand. we need to deal with debt overhang and persistent behavior that underlines this economy. we need some really good micro elements that have to do with the education system and labor retraining. >> until we get that -- >> until we get there, we are stuck at two percent. the longer we are stuck at two percent, the more potential growth we are coming down. the problems get structurally embedded. look at long-term unemployed and youth unemployment. >> mr. taylor, the economy has changed since the recession. many workers don't possess the necessary skills to meet the available job openings. are we looking at permanently higher unemployment for some time to come? >> i don't think we are. the problem with the unemployment rate remaining high with job growth hardly keeping up with the population could change. it depends very much on policy. to me, it is not so much second gear although i like the analogy. it is more this big heavyweig
Aug 18, 2013 4:00pm PDT
watchers on what the numbers say about the health of the economy and your money. some say the american dream has packed up for a new neighborhood. a look at the good life block by block. making the grade before kids go back to school. in a big season for retailers are the inside look at what tomorrow's generation of consumers want today. "on the money" begins right now. >> this is america's number one financial news program. "on the money" now, maria bartiromo. >> what's making news as we head into a new week. a cool-down on wall street. all the major indices took a tumble suffering the worst one and two-day drops in two months on wednesday and thursday. that led to a fall in the price of treasuries. investors are preparing for the fed's eventual winding down of the bond-buying program. also driving up concern on the street, a key earnings disappointment from walmart. the nation's largest retailer, largest employer, citing weaker sales and cutting its outlook for the year letter bellwether cisco warned uncertain demand for technology products, that could to cut as many as 4,000 jobs, 5
Aug 19, 2013 7:00pm EDT
plan is a huge drag on the economy. and on top of that the president's idea of corporate tax reform is really a tax grab for all his pet spending projects. there's no sign of the keystone pipeline. an epa war against coal and fossil fuel. and a double whammy of investor tax hikes and new regulation. so i ask why should the second half of this year's economy grow any faster than the nearly 2% growth of the first half? why? i don't see it. and in july numbers they were very mediocre. and if the fed makes any move at all, and i think they shouldn't, it's going to be a sliver. not even a taper. now, the president obsesses about income ineke waultd, but he says nothing about economic growth policy that's would create a rising tide that would lift all boats, which is what we need. i'm honored to be joined for the full hour tonight. wisconsin republican governor scott walker, who knows a thing or two about budget cutting, pro-growth tax reform, and job creation. also with us, the equally formidable president obama's former chair of the council of economic advisers, that being austan goolsb
Aug 15, 2013 7:00pm PDT
. has something changed in the economy? and what does it mean for your money? >> walmart says shoppers aren't shopping, spenders aren't spending and profits won't be what was predicted the what the walmart's woes say about the broader economy. >>> and housing disconnect. home builders are more optimistic than they have been in eight years. "nightly business report" for thursday, august 15th. >>> good evening everyone and welcome. the drip, drip, drip of sliding stock prices turned into something more today, something like a tarrant. investors digested troubled news with walmart and cisco and claims mean the federal reserve will reduce stimulus sooner rather than later. the dow is 546 points or 3.5% below the all-time high hit on august 2. the s&p 500 is 48 points or 2.8% below the peak set that day. new today's sell off accounts for half of those declines from the all-time highs, the dow down 225 points, the nasdaq lost 63 and the s&p 500 lower by 24. but it wasn't just stocks that fell today. bond prices tumbled, too, largely on the fed fears. the yield on the ten-year bond is 2.77%,
Aug 21, 2013 7:00am EDT
at the state of the u.s. economy and the financial system. the national press club hosts the event. you can watch it live starting at 9 a.m. eastern here on c-span2. >> today the good jobs nation coalition hosts a discussion examining civil rights and economic inequality. the event is part of the 50th anniversary of the march on washington. live coverage at 6 p.m. eastern here on c-span2. >> on c-span's end core presentation of "first ladies". >> garfield went to chicago to announce somebody else for president, so, of course, lucretia had no expect nation that over the -- expectation that over the next five months 17,000 people would show up on her property. that many people, obviously, unexpected, uninvited started to cause a lot of damage to the outside of the property. we know that lucretia garfield was a very gracious host to people that were invited if, she would offer them during the campaign what she called standing refreshment which meant she was very gracious, offered them a cold glass of water or lemonade but conspicuously no chair to sit in was she didn't -- because she
Aug 16, 2013 7:00pm EDT
to overlay fundamentals. the fundamentals are we're not seeing earnings growth or a strong economy and the world markets are not strong. you have to look at that in the context again with those technical indicators. overall this is a scary time. >> i agree people need to be careful. what hasn't been mentioned yet is the uncertainty surrounding not just fed policy and tapering talk that's going on which is a misguided move if they start pulling back in september. >> you don't think the economy is ready? >> certain spots of the economy are strong and some are already being affected by rising rates, housing one of them. the market another. you have this uncertainty who will run the fed. steve liesman said there's a two in three chance it's larry summers. wall street is worried about that pick. i don't think he's the right guy for the job. i think it's janet yellen, don cohen. >> why are you living? >> you've given me the perfect introduction to john harwood. he tweeted on this very issue today. let me tell them what you said. only potus and a few others really know, but well-informed
Aug 21, 2013 7:00pm PDT
patience and soon and how soon is soon and how patient is patient when an economy's fate is at stake? all that is clear is fed officials seem broadly united that the bond buying will end eventually. maybe by mid 2014 or not if the economy stumbles. the lack of definitiveness is why the dow soared and sank today down 122 after the release of the minutes, then up by 17 briefly before closing down 105. the dow finished behud the hud 15,000 mark for the first time with the losing session. the nasdaq lower by 13 points and the s&p 500 off by nine. meanwhile, treasury yields moved by the british boy band, one direction up, constantly up. up to 2.9% on the ten-year bond. with so much uncertainty about the market and the fed's tapering plan, the fed has enough to make them head for the hills, which is what they did. steve liesman has the report. >> reporter: good evening from wyoming where the federal reserves gathers every year for the retreat on the policy and economy. this year there is a high but not unprecedented level of uncertainty surrounding this meeting. every four years they get togeth
Aug 23, 2013 4:00am EDT
try to upgrade its economy, to manage down the growth expectations for the private sector in a very steady fashion while resolving some of the local government debt issues, property issues. so it is a transitional phase, put i think the tactile market tends to want to see a one-way market, but for the regulators who manage the economy, they like to make changes while keeping things stable. so this is the perfect backdrop of a range bound market and this is what we saw last year, this year, and potentially a good part of next year. >> if we drill down into the sectors, wendy, looking at the financials, to what extent will they suffer from the government's push for further deleveraging. will investors take it as good news because loan growth will be more sustainable, healthier or bad news just because loan growth volumes will be down? >> yeah, i think what happens is probably a soft landing of asset prices over multiple years. and the listed banking sector should be better than the broader banking sector. so i think so far the reported bank results shows an accelerated pace of banks r
Aug 21, 2013 7:00pm EDT
problem is they've created an environment that is just unhealthy. it's unhealthy for the economy and unhealthy for themselves. they should back away from tapering and allow themselves to follow interest rates higher at the long end rather than lead them higher. allow the cyclical economy to push them higher. we have global disinflationary pr pressures. >> lee haskins, let me ask you a question. car sales are pretty good, home sales are pretty good. i don't see it in retailers. i don't see it in manufacturing. i don't see it in capital goods, for example, i don't see it in those places. i don't know how the fed gets out of this box. that's what i'm asking. they want to taper but the economy is coming in much less. how do they get out of this? >> there's no easy way out of the problem that they've created for themselves. they've tried an experimental policy, got other major central banks trying this policy as well and has already been pointed out, there are huge imbalances including great miss allocation of capital which will hurt us in the long run. it's better to bite the bullet now,
Aug 19, 2013 11:00am PDT
official economy that are hiding. because of fear that will not participate in health prevention because of fear. because of that we have to have an immigration policy it is forward-looking and make sure there's a path to censorship[p. we're in a worldwide talent war. are we going to lose to other great cities or are we going to make sure we're getting the talent. i know the conversations are a bit sensitive but we're not taking anything away from our companies. i have investments in europe where we train residents to be part of the technology we have but at the same time certain areas need that worldwide talent. event pride is not just here for local customers but for events around the world. and that's true for every company in the chamber of commerce wants worldwide so immigration is part of their dna of recruiting talents to get the worldwide talents that are competent. i want to break in the african and latin america and our businesses to be represented all over the world because our sdm dna is about being a national city. san francisco has always been a part of the conversa
Aug 16, 2013 3:00pm EDT
that. overall, i'm optimistic about the economy over the next couple, three years. earnings are strong. dividends are providing good support. share repurchase is encouraging. so i would be buying, yes. >> john, are you buying the cyclicals because you think the economy is growing or buying defensive issues because the stock market's going up because of the fed? >> particularly now, i think i would be favoring some of the consumer cyclicals, some of the industrials, and the financial sector, which i think has a lot of room to go. >> what about the tapering? do you think we will see the federal reserve begin rolling it back this september? >> i think we will see something this fall. because i'm not sure that the natural unmanipulated level of interest rates is significantly higher than the current level, especially since we've had already this upward move in interest rates. i just don't know how much more there is to come, given that inflation is still pretty modest given that unemployment is still relatively high, given that economic growth is tepid. it is a growing economy, but a slowl
Aug 16, 2013 2:30pm PDT
until mid-september. but just like the rest of the economy, it has been under pressure after the 2011 revolution. there are warnings that the entire economy will come to a halt. >> the worst crisis in decades, it the already beleaguered economy is said to be the biggest casualty. revenues cover only half of expenditure. early july, egypt received $12 billion in aid from saudi arabia, the united arab emirates, but that is only a stopgap. egypt needs the imf's help. would be the government possibility to push reforms. the stakeholders have to approve it. >> they will not open negotiations until they get international recognition. for others, it can't come soon enough. >> the current economic situation is on the brink. there are a lot of factories, shops, and traders hit hard. and they still can't get back up and running. it is much higher. >> take a look at the stock market. >> the dow jones industrial average went in and out of territory, positive territory on friday. with the nasdaq and the s&p 500. over the week, the indices had their worst week this year on nervousness that the fede
Aug 19, 2013 5:00pm EDT
? >> if inflation was the reason it would be all right. you have a strong enough economy that's causing the fed to talk about taper. >> the fear is people will stop buying houses cars anything that has to do with interest rates. >> with the fund rates pegged at zero, at three percent you're talking about being too steep. you're going to cap it at three, a little more than three percent. the damage is done. >> that's bullish for an e trader charles schwab where we've seen they can charge fees again because they're not getting paid on it. it's bullish for them but negative for utilities. you want to stay out of utilities, out of the home builders to an extent but the home builder stocks have been beaten up so much that i actually played around in dhi. >> i think the right way to look at this is that higher rates will have a disproportionate effect. it's difficult to look at the whole u.s. stock market and say this is mon lengthic. first of all higher rates are typically accompanied by a stronger economy as jim pointed out. second, to what extent are we discounting this? home builders are
FOX Business
Aug 16, 2013 4:00pm EDT
think about higher rates and impact on the stock market and of course the broader economy? >> well, i'll tell you what, right now at least people on main street are not seeing the same thing that wall street is. i don't care if it is six-month forward indicator of indexes or not, i always look to the commodity complex because it tells so much where things are. first of all precious metals went through the roof this week and gold held at 50 day moving average. silver went through it. crude oil -- lori: is that sentiment on inflation or safe haven play? >> safe haven play. middle east as it gets blown into every tv looks like it will get worse. accordingly what we like to see in the markets is a fundamental scenario where something happens where we would consider normal movement is actually incorporated into some of the commodity complexes. david: good stuff, michael. >> puzzling -- go ahead. lori: michael guess cashing we'll bring you back in a couple more minutes for insight on the markets. david: when we were talking with michael, whole financial world is fixated when the fed begi
Aug 21, 2013 4:00pm EDT
. market has been in choppy waters. how does the economy feel to you? >> nondescript. >> stuck in neutral. >> well, i think there is so much focus on regulation today that if ceos of major corporations were to admit it, they would acknowledge the amount of time they're spending on navigating through this minefield of regulation. for example, look at what the affordable care act is causing people to do in temples of scheduling part-timers. instead of, hey, what's right for the customer, hey, how do we make the customer's experience better, you're watching the clock, because you don't want to get near the 30 hours, for the part-time people, because it will cost you a lot of money. >> right. >> so on the one hand, i understand for every action there's a reaction. what went on in the early 2000s or up to 20308 with the subprime debt and the cbos and all that stuff, we're paying a price. >> right. >> and the price we're paying is not the severe adjustment to the market. the price we're paying is the aggressiveness of regulation right to the point where the -- our attorney general says
Aug 21, 2013 5:00pm EDT
ten year economy. they're at 280, 290 at this point in time. it looks a little overdone. >> they're tapering but the timing. it feels as if they're more confused. >> i kind of disagree with beeks. they did say the economy is worse. they pointed out a lot of things. i think they're agreeing with themselves and what they said in june. the market reaction in june was right and where we got to in mid july was about right. one of the quotes was something -- i wrote it down. the committee considered whether to add more information concerning the contingent information to the policy statement but it might prompt an unwarranted shifted in expectation. they look where they got the market. as much as it seemed like bernanke was scared and he had to apologize but the data is different. i look at the treasury curve and you look at the five year part of the curve and you're having the lower end of the curve react almost as if people are getting ready for rates to change and that's big. >> what's the take away for you, karen? >> i feel like it's going to happen at some point. i think in six month
Aug 20, 2013 4:00am PDT
unemployment reports are getting stronger. so there are inklings that the economy might be getting a little better. that's one. the second is a rumor that i'm starting to hear circulate that bernanke is really looking out for his own legacy. and what i mean by that is if bernanke tapers befor he leaves office early next year, in other words taking the training wheels off the economy, and the economy takes off and it works he'll be known as the guy who started qe3 and then was able to stop it and started the economy going on the right foot. so i think he's looking out a bit for his legacy. he may have a bias to start that tapering program a little earlier than we think. > >still a big dice roll as to how markets will react and the overall economy too. doug rothschild, thanks so much. > >thank you. in its ongoing efforts to improve so-called "stress tests" on big banks, the federal reserve isn't yet satisfied.the fed said yesterday that some banks still aren't taking into account the possibility of declining home prices when setting the amount of capital on hand. the fed is demanding t
Aug 22, 2013 1:00am EDT
original series "first ladies." coming up, the state of the u.s. economy. later, the march on washington oral histories. >> on the next "washington dehaven on that disability insurance program. on thehat, frank oliveri joint strike fighter program. art probably nsa ch looks like. "washington journal" is live every day as 7 a.m. eastern. >> let's begin with a very well- known novelist. what brought you? thiswas born a negro in country and welcome deeply. there was no reason not to be involved what is considered the most important and most noted demonstration to free americans. until recently, like most americans, i have expressed my support of civil rights by talking largely about at cocktail parties. summer,y americans this i could no longer pay lip service to a cause that was urgently right and in a time that is so urgently now. tvsunday, american history marks the 50th anniversary of the march on washington with historic and contemporary roundtable discussions. we will have a visit to that gallery, a theater performance of the 1960s civil rights movements. it starts at 1 p.m. eastern,
FOX Business
Aug 15, 2013 5:00pm EDT
wrong signal to send. lori: i want to talk about the economy of egypt because it is nonexistent, lisa, right? unemployment is above 20%. these people are starving. you have western-based businesses also pulling out. you have shell closing operations. gm closing a plant there. what beyond, i know that there's tremendous aid pouring in still but, is getting the economy on more solid footing an answer here? >> that was actually the root of the problem. people don't start revolutions because of democracy. they start it obviously because of poverty in the country. the country has 85 million people that can not be sustained. there are not many jobs. people are overeducated canned 90 jobs. poor people are not being fed. people out on the streets fall into two main groups, terrorists muslim brotherhood members trained and media savvy and how to run the operation and second type is lower socioeconomic brackets being fed by muslim brotherhood. we find that where these groups are going in and they're nesting because they're able to open soup kitchens to answer to the needs of these people. so th
Aug 15, 2013 4:00am EDT
tanking after the bellwether gives a dour outlook on the global economy and cuts 5% of its workforce. >>> zurich insurance net profit falls nearly 30%, hit by weather-related claims in the u.s. and europe. this as lower interest rates weigh on investments. >>> welcome to the show, everyone. let's get back to one of our top stories this morning. hundreds have been left dead and thousands injured after security forces broke up camps supporting the former president mohamed morsi. interim vice president and leading liberal voice in the country mohamed elbaradei resigned over the use of force. yousuf is in cairo. what is the latest on the ground? >> there is a relative return to calm in this part of cairo, but, of course, the country as a whole is in a state of emergency after clashes yesterday between supporters of the ousted president and security forces. the government taking a decision to disperse these two protest sites, which have been holding out there for some six weeks. the diplomatic efforts didn't work and now they made a decision, they said they had no other choice. the prime
Aug 17, 2013 11:00am PDT
, you know markets and you know the economy, and i was watching retail earnings this week showing from store to store, that a paycheck to paycheck customer is under stress right now. sales at macy's declined for the first time in four years. interestingly enough, bloomingdale's also boind maown macy's did fine. costco having to hold up. >> there are a group of many people who are worried about their jobs if they have jobs. they're not well-paid jobs, they can't own their home, and in addition, they don't feel like they have adequate provision and access of public services, education and health. and that is particularly true for the long-term unemployed, for the younger unemployed, and it's particularly true for those below the poverty line. on the other hand, we have a group of people that are better off. they have done extremely well. why? because they have asseccess to family assets. and family assets have been bolstered in an attempt to improve financial accuracy. you're not getting enough growth, you're not getting enough job creation, and it's not an engineering problem. that
Aug 23, 2013 1:00am PDT
critical area of the economy. that and more tonight on "nightly business report" for thursday, august 22nd. >>> if you wanted to buy sales of apple, google, intel, microsoft or any other stock listed on the nasdaq you couldn't. the reason, for more than three hours trading was halted because of a major computer glitch. it raised new questions about the safety of electronic trading and the impact on investor and business confidence in u.s. markets. this is the latest in a series of technical snatches that have paralyzed the market like the botched offer of facebook last year and the slash crack of the new york stock exchange in 2010. bertha comb joins us with me. what an extraordinary day. >> reporter: quite an extra orpd narcoticry day and a lot of folks are saying thank goodness it happened on a quiet thursday in august. essentially, if you look at the day's chart for the nasdaq composite, it essentially flat lined for three hours because none of the stocks were trading. what appears to have happened is a glitch in the system where you get the prices and quotes on trading stocks. with an
Aug 17, 2013 6:30am PDT
the accelerator, not just because the economy is healing, but also because it's worried about the consequences, the collateral damage, of it's experimental policy, and we got two very important signals out of cisco and walmart, as you mentioned, that the corporate sector is starting to have a more difficult time. so people should be more careful because there's also a lot of uncertainty coming up in september. >> being more careful of september, the sep-taper on the calga callender. jobless claims the lowest since 2007. that shows health in the labor market. that's what ben bernanke said, when things look good in the labor market again, we'll be able to stop support the economy so much. >> and this should be a good thing. we should feel good about the fact we don't need to be on life support anymore. i think people are concerned about how things are going to go with the fed because we're in unprecedented territory. we have never seen this. i asked the same thing. people are sitting on very big gains, very big profit gains. if you're a money manager, you want to lock in the gains.
Aug 18, 2013 7:30pm EDT
stall? two top market watchers on what the numbers say about the health of the economy and your money. are the suburbs dead? some say the american dream is packed up for a new neighborhood. a look at the good life block by block. >>> and making the grade before the kids go back to school. in a big season for retailers, we'll get the inside look at what tomorrow's generation of consumers want today. "on the money" begins right now. >>> here's a look at what's making news as we head into a new week "on the money." a cooldown on wall street this week. all of the major indices took a tumble, suffering the biggest drops on thursday. and it also led to a fall in the price of treasuries. investors are preparing for the federal reserve's eventual winding down of the bond-buying program. and a disappointing earnings report from walmart, citing weaker sales and cutting the outlook for the year. technology bellwether, meanwhile, cisco warned uncertain demand for its business technology products will lead that company to cut as many as 4,000 jobs, 5% of the workforce. emerging markets an issue th
FOX News
Aug 15, 2013 7:00pm PDT
of obama on the economy is 62%. it's not possible for this economy to grow given what obama is doing to it. he's shrinking it. 62%, it dove tails with the polling ta data on people who don't want obama care. the american people do not want obama care, nor do they want an alternative of obama care. what they want is not obama care. they want it yanked. why do we have to accept their claim that the health care system is broken? i would submit to you it's being broken. i would much rather take the american health care system before obama care was elected than what we have now. it's a no-brainer. the biggest problem in american health care is it has no relationship to the cost of living of the average citizen like every other business does. there's simply no relationship, no market relationship between the costs in health care and the lives of the american people. 62% of the american people oppose the economic policies of the regime. what's the republican party doing? on issue after issue, there's a giant majority waiting to be connected. >> governor, just to reemphasize, this is a
Aug 15, 2013 4:00pm EDT
than the fed. is this market now turning its attention to the whied that the economy is not doing much. so regardless of whether the fed is going to be there the next couple of months, we are seeing a real weakening. >> maria, obviously, the market was focused on wal-mart earnings today, which were weak in kohl's, cisco's bad guidance be you the fed is still looped in there. part of today is a kevin that the fed is going to taper in a way that is detriment am. so i think that concern is still out there. it's kind of like the sword of damacles if you will. i tend to agree with a what allen was saying, it was something was ignored today, weekly and initial jobless claims hit a six-ier low. i'd be putting more money to work here, too. >> we want to get back to you in a moment, dan, on. that i look at domenic chu. he is covering nordstrom earnings. what do they tell us given what we heard from wal-mart today? >> again, a lot of a mixed picture with john in order strom. the bottom line, 93 cents. beats the analyst's estimate of 88 cents per share. you look at the top line the sales num
Aug 22, 2013 4:00am EDT
from fiscal tightening fade, the economy is starting to lift. i guess that's also what we saw in the gdp data last week. i think it is quite encouraging. >> the french manufacturing number that missed expectations. do you think the second quarter growth number from that particular economy was an aberration, was it too early to pop the champagne bottles there? >> well, i don't think you can expect every single number for every single country to increase every single month. always going to be a bumpy ride in some cases. if you look broadly across the eurozone it quite clear the trend is for the economies to be coming out of recession. i think as i say less austerity, better policy mix in terms of pro growth policy mix. i think broadly it is quite encouraging. we were worried about the emerging markets, but you see clear signs of a pickup in europe. japan is responding to the policy stimulus and u.s. should see growth accelerating in the second half as, again, the fiscal tightening there moderates. quite encouraging you're seeing g-3 growth picking up at the moment. >> let's talk about
Al Jazeera America
Aug 21, 2013 3:00am EDT
bleak, why some of the merging asian economies are on the wane. and despite war and chaos, we'll tell you why a leading aid organization has pulled out of the country. was not me. check us out 24 hours a day on [♪ music ] >> welcome back, a reminder of the top stories on al jazeera. in japan has upgraded a water leak to a level three incident. it's the highest level since the tsunami of 2011. a judge will rule in corruption charges against hosni mubarak in the next few hours. his lawyer will petition the court in cairo demanding that he be freed. >>> activists claiming that syria firing chemical warheads. >>> there are fears for the health of some of asia's economies. thailand is in recession. it ended the last time last quarter for the first time since 2008. malaysia is expected to pace it's second quarter of growth below 5% this week. and in china bad loans from banks is rising and the country's growth has been slowing. and the indian rupee has been falling because the government has failed to carry out long overdo you structural changes to the economy. and japan bounces back afte
Aug 16, 2013 4:00am EDT
also on signs that the chinese economy is slowly but surely stabilizing the indian rupee hitting another record low against the dollar. this is, of course, on fed tapering fears and central bank's actions to stem the decline in the rupee are not really helping right now. today, the indian rupee is down by .5% against the dollar and the new zealand dollar is higher now, was under pressure before on the back of the earthquake that we saw in the capital of new zealand. let's check in on asian markets with li sixuan. good afternoon to you. >> good morning to you, carolin. following wall street's sell-off overnight, asian markets extended yesterday's losses in the very dramatic way. shanghai composite today, it was surging by as much as 5% before ending down by .6%. we were also watching the 50 index which tracks the top 50 stocks on the shanghai composite. some surged up by 10%, just past 11:00 this morning. this includes index giants like petro china and china unicom. according to china's 21st century business herald, it was a fat finger trade by everbright securities investment dep
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